4001 Office Ct

Santa Fe, NM 87507 | 72,633 SF | Investment Property For Sale


4001 Office Court I & II | Value-Add Investment Opportunity | 8% Cap Rate on In-Place Income

Investment Property For Sale

Price $7,796,575.00
Size 72,633 SF

Additional Information

4001 Office Court I & II
Santa Fe, NM


Offering Summary

Purchase Price: $7,796,575
Price per Square Foot: $107.34
Net Operating Income: $623,726
Cap Rate: 8.00%
Projected Cash Flow After Debt Service*: $192,826
Projected Cash-on-Cash Return*: 9.89%

*Loan Assumption: 5.5% rate, 75% LTV, 25-year amortization


Investment Highlights

  • Value-Add Investment
    – Portfolio: ±72,633 SF (77% occupied)
    – 4001 Office Court I: ±45,081 SF (71% occupied)
    – 4001 Office Court II (Condos)*: ±27,552 SF (86% occupied)
  • High-yielding investment – 8% Cap Rate based on current, in-place income
  • Delivered free and clear of any existing financing
  • The Santa Fe market has high barriers to entry
  • Low price/SF – $107.34/SF (priced will below replacement cost)
  • Original ownership has managed the property since it was developed
  • Diverse mix of professional tenants
  • Strong leasing momentum
    – 19,736 SF of lease-up in 2017
    – 6,348 SF of lease-up in 2018 YTD
  • Excellent location
    – Located in the fastest growing area of Santa Fe
    – Easy and quick access to Interstate 25 and many other services
    – Neighbors the Santa Fe Place Mall
    – Located off the major thoroughfare Cerrillos Rd
    – Close proximity to new Presbyterian Hospital
  • Newer, attractive, quality construction
    – Unique product with first-class office environment
    – Light industrial features including loading patios and 6’0″ x 6’8″ French doors
    – No common areas (no wasted space)
    – Tenant improvements can be completed quicker and less expensively than at competitive properties due to modular design
    – Exceptionally-maintained by attention-to-detail owner with aggressive preventive maintenance program
    – Modern industrial aesthetic with extensive landscaping

*Three condos (2,562 SF) are owned by others; not included in the square footage


Cole Flanagan, CPA, MBA


Jake Mechenbier

Senior Advisor

Rich Diller, CCIM, SIOR


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